NatWest Group has announced the launch of private bank Coutts in Scotland.

The wealth manager and private bank will open a network of offices in Edinburgh, Glasgow and Aberdeen, led by Alisdair Dewer, formerly relationship director at Royal Bank of Scotland.

The move follows the completion of the sale of the Adam & Company investment management business to Canaccord Genuity Wealth Management (Adam’s banking and lending business is not part of the sale).

NatWest Group said it will now be far more convenient for Scottish clients to access Coutts broader private banking offering, including modern services such as multi-currency debit cards and flexible lending.

Coutts is also regarded by NatWest Group as a centre of excellence for investment and asset management and has invested in becoming a digitally enabled bank as well as increasing its focus on ESG and sustainability.

Peter Flavel, CEO at Coutts, said: “This exciting development allows us to provide an on-the-ground Coutts presence in Scotland. We’ve had an excellent track-record with Adam & Company, and we are delighted that we are able to continue serving Scotland’s private banking market with a wider product and service offering.

“Scotland is an important part of the NatWest Group’s heritage and through our network of Scottish offices and experienced locally-based team, our commitment to our clients and colleagues remains unwavering. A big focus going forward is to create value beyond products and services by helping clients achieve their goals without compromising their values. Doing well by doing good can go hand in hand and for us, responsible investing isn’t just the right thing, it’s the smart thing.”

Current Adam & Company banking and lending clients will continue to be served under the Adam & Company brand until the proposed integration of the business into Coutts in mid-2022, subject to the approval of the Court of Session.

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